ABF: what changed
Two financial years side by side, explained: what moved most in the balance sheet and the result, why the result rose or fell, and where the money went.
ABF
Largest movements
- Stocks and contracts -€729,078
down €729,078 (-97.5%), from €747,524 to €18,446
- Receivables after one year +€175,000
new in 2025: €175,000
- Cash +€83,253
up €83,253 (+1,819%), from €4,577 to €87,830
mainly Stocks and contracts (+€729,078) and Depreciation (+€29,541)
- Tangible fixed assets -€42,016
down €42,016 (-68.7%), from €61,173 to €19,158
of which Furniture and vehicles: -€39,191
- Short-term financial debts -€453,805
no longer reported in 2025 (was €453,805)
- Reserves -€32,487
down €32,487 (-15.1%), from €214,851 to €182,364
of which Distributable reserves: -€32,487
- Trade debts -€24,090
down €24,090 (-18.4%), from €131,232 to €107,142
- Tax, wage and social debts +€19,607
up €19,607 (+36.4%), from €53,868 to €73,475
of which Taxes: +€19,607
- Debts after one year -€18,371
no longer reported in 2025 (was €18,371)
- Financial income -€46,425
down €46,425 (-99.9%), from €46,494 to €68
- Depreciation -€7,588
down €7,588 (-20.4%), from €37,129 to €29,541
- Gross operating margin +€5,531
up €5,531 (+6.5%), from €84,799 to €90,330
- Financial charges +€3,416
up €3,416 (+19.4%), from €17,588 to €21,005
- Taxes +€1,185
up €1,185 (+14.8%), from €7,992 to €9,177
From the 2024 result to the 2025 result
Each bar is the change in one income-statement line, as its effect on the result: higher costs pull it down, higher income lifts it.
Derived cash bridge
Derived from the 2024 and 2025 balance sheets and the 2025 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,073,016 | €545,085 | -€527,931 | -49.2% |
| Fixed assets | 21/28 | €250,347 | €207,521 | -€42,826 | -17.1% |
| Tangible fixed assets | 22/27 | €61,173 | €19,158 | -€42,016 | -68.7% |
| Plant, machinery and equipment | 23 | €3,920 | €1,095 | -€2,825 | -72.1% |
| Furniture and vehicles | 24 | €57,253 | €18,062 | -€39,191 | -68.5% |
| Financial fixed assets | 28 | €189,174 | €188,364 | -€810 | -0.4% |
| Current assets | 29/58 | €822,669 | €337,563 | -€485,106 | -59.0% |
| Amounts receivable after more than one year | 29 | - | €175,000 | +€175,000 | |
| Other amounts receivable | 291 | - | €175,000 | +€175,000 | |
| Stocks and contracts in progress | 3 | €747,524 | €18,446 | -€729,078 | -97.5% |
| Contracts in progress | 37 | €747,524 | €18,446 | -€729,078 | -97.5% |
| Amounts receivable within one year | 40/41 | €25,913 | €15,693 | -€10,220 | -39.4% |
| Trade receivables | 40 | €25,908 | €15,673 | -€10,236 | -39.5% |
| Other amounts receivable | 41 | €5 | €21 | +€16 | +343% |
| Current investments | 50/53 | €35,338 | €35,338 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €4,577 | €87,830 | +€83,253 | +1,819% |
| Deferred charges and accrued income | 490/1 | €9,317 | €5,256 | -€4,061 | -43.6% |
| Total equity and liabilities | 10/49 | €1,073,016 | €545,085 | -€527,931 | -49.2% |
| Equity | 10/15 | €244,851 | €212,364 | -€32,487 | -13.3% |
| Contributions | 10/11 | €30,000 | €30,000 | = | 0.0% |
| Reserves | 13 | €214,851 | €182,364 | -€32,487 | -15.1% |
| Non-distributable reserves | 130/1 | €3,000 | €3,000 | = | 0.0% |
| Reserves not available under the articles | 1311 | €3,000 | €3,000 | = | 0.0% |
| Tax-exempt reserves | 132 | €17,200 | €17,200 | = | 0.0% |
| Distributable reserves | 133 | €194,651 | €162,164 | -€32,487 | -16.7% |
| Amounts payable | 17/49 | €828,165 | €332,720 | -€495,445 | -59.8% |
| Amounts payable after more than one year | 17 | €18,371 | - | -€18,371 | |
| Financial debts | 170/4 | €18,371 | - | -€18,371 | |
| Amounts payable within one year | 42/48 | €808,086 | €331,012 | -€477,074 | -59.0% |
| Current portion of amounts payable after more than one year | 42 | €24,289 | €18,371 | -€5,918 | -24.4% |
| Financial debts | 43 | €453,805 | - | -€453,805 | |
| Credit institutions | 430/8 | €453,805 | - | -€453,805 | |
| Trade debts | 44 | €131,232 | €107,142 | -€24,090 | -18.4% |
| Suppliers | 440/4 | €131,232 | €107,142 | -€24,090 | -18.4% |
| Taxes, remuneration and social security | 45 | €53,868 | €73,475 | +€19,607 | +36.4% |
| Taxes | 450/3 | €51,384 | €70,991 | +€19,607 | +38.2% |
| Remuneration and social security | 454/9 | €2,483 | €2,483 | = | 0.0% |
| Other amounts payable | 47/48 | €144,894 | €132,025 | -€12,868 | -8.9% |
| Accrued charges and deferred income | 492/3 | €1,708 | €1,708 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €37,129 | €29,541 | -€7,588 | -20.4% |
| Other operating charges | 640/8 | €1,182 | €1,276 | +€94 | +8.0% |
| Non-recurring operating charges | 66A | - | €12,474 | +€12,474 | |
| Gross operating margin | 9900 | €84,799 | €90,330 | +€5,531 | +6.5% |
| Operating profit (loss) | 9901 | €46,488 | €47,038 | +€551 | +1.2% |
| Financial income | 75/76B | €46,494 | €68 | -€46,425 | -99.9% |
| Recurring financial income | 75 | €46,494 | €68 | -€46,425 | -99.9% |
| Financial charges | 65/66B | €17,588 | €21,005 | +€3,416 | +19.4% |
| Recurring financial charges | 65 | €17,588 | €21,005 | +€3,416 | +19.4% |
| Profit (loss) for the period before taxes | 9903 | €75,393 | €26,102 | -€49,291 | -65.4% |
| Income taxes | 67/77 | €7,992 | €9,177 | +€1,185 | +14.8% |
| Profit (loss) for the period | 9904 | €67,401 | €16,925 | -€50,476 | -74.9% |
| Profit (loss) for the period to be appropriated | 9905 | €67,401 | €16,925 | -€50,476 | -74.9% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 16 October 2026 via checked.be.